Noor Islamic Bank Does $2.2 Billion Syndicated Business in Turkey

Further deals in the pipeline as Noor eyes Sukuks

Dubai, May 19, 2012: Noor Islamic Bank has completed Islamic market mandates valued at over US $2.2 billion (AED 8 billion) in the past two years in Turkey, cementing its position as the leading UAE bank executing Shari'a compliant syndicated facilities in Turkey.

In its latest foray into the Turkish market, the bank, as an initial mandated lead arranger and joint bookrunner, successfully closed a US$ 350 million equivalent dual-currency Murabaha facility for Türkiye Finans Katilim Bankasi. Launched at US$ 150 million, the syndicated loan was oversubscribed by more than 2.5 times.

Over the past nine months Noor Islamic Bank has also been the initial mandated lead arranger and joint bookrunner for a US $325 million facility for Bank AYSA; a US $75 million facility for HALK Leasing and a US $350 million facility for Al Baraka Turk Bank.

In total, 85 banks across Asia, Middle East, Africa and Europe have participated in the syndicated commodity Murabaha financing deals led by Noor.

Hussain Al Qemzi, GCEO of Noor Investment Group and CEO of Noor Islamic Bank said: "The fact that more than 85 financial institutions from 26 countries participated in these facilities, led by Noor, reflects the quality of the transactions and are a strong endorsement of our international financial expertise. We are the only arranger bank in these deals that does not have on the ground presence in Turkey and yet, we have still been able to successfully lead multi-billion dollar cross border mandates."

Noor Islamic Bank is confident of closing further Islamic finance mandates for Turkish financial institutions and large corporations before the end of the year and is actively looking to bring Turkish institutions to the global Sukuk market.

About Noor Islamic Bank
Established in 2008 in Dubai, Noor Islamic Bank is a full service bank delivering the broadest range of products for its customers, with an emphasis on unique and personalized services. Noor Islamic Bank's products and services are governed by a Shari'a Board, comprising leading Islamic scholars with extensive experience and expertise in legal, financial and banking-related matters. Noor Islamic Bank has locations across the UAE in the Emirates of Abu Dhabi, Dubai, and Sharjah. Noor Islamic Bank is 50% owned by the Dubai government and 5% owned by the Emirates Investment Authority; the remaining 45% is held high net worth individuals in the UAE. For further details, please visit: www.noorbank.com or call 800NOOR(6667).

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